The Indian equity market closed this week on a positive note as the two benchmark indices closed in the green on Friday. At market close, Nifty 50 was up 0.67% at 20,267.90, while the Sensex gained 0.74% at 67,481.19 points. The positive trading on Dalal Street was seen after India's Q2 GDP numbers exceeded expectations. The top gainers on the Nifty pack were ITC (up 3.06%), NTPC (up 2.93%), and Axis Bank (up 2.68%).
BSE Sensex gained 464 points or 0.69% to 67,453 and Nifty50 soared 129 points or 0.64% to 20,262 at 11:12 am on December 1. Nifty Bank gained 403 points to 44,885 and Nifty Midcap soared 401 points to 43,310 at 11:13 am. Shares of Bharti Airtel hit 4th consecutive 52-week high today after block deal announcement.
Hindustan Aeronautics Ltd shares hit all time high today with the gain of 3.79% to 2474.05 at 10:30 am. HAL shares gained 10% in last 1-week and 16% in last 2-weeks only.
Shares of NTPC, Apollo Hospitals, L&T, IndusInd Bank and BPCL emerged as major gainers on the Nifty. Shares of Bajaj Auto, Wipro, Hero MotoCorp, Titan Company and Wipro turned out to be major laggards.
NTPC shares gained more than 2% in morning trade to 266.60 apiece.
Meanwhile, shares in the Asia-Pacific region are trading largely in red on Friday morning. Asia Dow witnessed a dip of 0.05%. Chinese index Shanghai Composite declined 0.24% and Hong Kong's Hang Seng index fell 0.26%, as Japan's Nikkei 225 gained 0.04%.
Prashanth Tapse, Senior VP (Research), Mehta Equities said, "Markets are likely to be on a firm ground in early Friday trades tracking strong gains in the Gift Nifty index despite a mixed trend in global equities. The biggest positive catalyst has been the resurgent optimism from the FII camp, which bought local shares worth over Rs 8,000 crore on Thursday amid moderating US bond yields and fading concerns of further interest rate hike."
Rahul Kalantri, VP Commodities, Mehta Equities said, "The USDINR 27 December futures contract crossed 83.40 levels. As per the daily technical chart, the pair is trading above its moving average trend-line support level of 83.30 and RSI is fetching above 50 levels. Looking at the technical set-up, MACD is showing positive divergence and the pair crossed 83.40 levels. As per the daily technical chart the pair is having support at 83.30-83.15 while resistance is placed at 83.55-83.70. If the pair sustains above 83.40 it could witness further strength in the upcoming sessions.
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Dec 01, 2023, 3:17 pm IST
Raymond Independent Directors Retain Senior Independent Legal Counsel Berjis Desai To Protect Shareholder's Interest
The independent directors of Raymond have hired Berjis Desai, an independent senior lawyer, for advising the board on the family feud between company chairman Gautam Singhania and his estranged wife Nawaz Modi. In an exchange filing, the company today said, "The ID have decided to retain Mr. Berjis Desai, senior independent legal counsel, who has no links with the promoters or the Company, for advising the ID. The ID would like to assure the stakeholders that the ID shall act dispassionately. The paramount consideration shall always be the interests of the Company as a whole and its non-promoter shareholders."
Dec 01, 2023, 2:39 pm IST
JSW Energy Appoints Sharad Mahendra As Joint MD, Stock Up 3.42%
JSW Energy announced on Friday that based on the recommendation of the Compensation & Nomination and Remuneration Committee, the Board of Directors has approved the appointment of Sharad Mahendra as a Whole-time Director (Joint Managing Director & CEO – Designate) of the Company with effect from 1st December, 2023.
Today, JSW Energy shares were seen trading 3.42% higher at Rs 422.05 per share at 2:31 pm IST.
Dec 01, 2023, 2:14 pm IST
NTPC, AXIS Bank, L&T, Eicher Motors: These Nifty50 Stocks Hit Fresh 52-Week Highs Today
On Friday, several Nifty 50 stocks that reached their 52-week high in the intraday trading include NTPC, AXIS Bank, L&T, Eicher Motors. NTPC shares traded on new 52 Week high value 275.40, Axis Bank traded on new 52 Week high value 1108.70, L&T traded on new 52 Week high value 3195.50, and Eicher Motors shares traded on new 52 Week high value 3950.00.
Dec 01, 2023, 1:46 pm IST
Bharti Airtel Launches Wynk Rewind With India’s Favourite Music of 2023
The top artists, albums, and songs that dominated the Indian music landscape in 2023 were revealed by Wynk Music, the country's largest music streaming service based on downloads and daily active users. The greatest musicians, records, tracks, and playlists that were streamed on Wynk music during a specific year are compiled in Wynk Rewind 2023. Utilising an Artificial Intelligence (AI) algorithm, it deduces user listening habits and provides Wynk users with a customised app experience. It presents trends that provide a comprehensive overview of listening habits concerning total minutes streamed, favourite songs, and artists, all of which can be shared on social media. With over 1300 artists, Wynk Studio is India's largest music distribution ecosystem for independent musicians. Since the platform has enabled these artists to solve their problems with monetisation and discovery, it is evident that 55% of these artists are from non-metropolitan areas, including places in the Northeast. Among the top independent musicians of the year are Aditya Rikhari in Hindi, Mali in English, Harsha Prawin in Telugu, AR Anandh in Tamil, Dheemusix in Kannada, and Raj Burman in Bengali.
Dec 01, 2023, 1:41 pm IST
Nifty 50 Hits Life High With No Heavyweights' Contribution
Nifty 50, has hit record high despite a noticeable absence of substantial contributions from its heavyweight components. As of Friday, December 1, 2023, the index has surpassed its previous life high of 20,222.45. This surge has occurred in the midst of considerable underperformance from the top five entities that typically exert influence on market trends.
Dec 01, 2023, 1:38 pm IST
Dixon Tech Hits All-Time High After Subsidiary Unveils New Plant For Xiaomi Phones
Dixon Technologies saw a 7% surge, reaching a peak of Rs 5,865 per share during Friday's (December 1) trading session, driven by the inauguration of a Xiaomi smartphone manufacturing facility in Noida. Over the last six months, Dixon Technologies' stock has yielded a substantial return of 50%.
Dec 01, 2023, 1:37 pm IST
NTPC Climbs 5%, Is Top Nifty Gainer
NTPC's stocks are currently experiencing a 4.5% increase, closely approaching the 52-week high of Rs 275.45 per share. These shares are adding 12.8 points to the upward momentum of the Nifty 50 index.
Dec 01, 2023, 1:31 pm IST
Tata Metaliks Appoints Santanu Banerjee As Vice President
Tata Metaliks declared that its vice president, Dr. Bharat Bhushan, has applied for a group transfer in order to pursue a position inside the Tata Steel Group. Consequently, as of December 01, 2023, he is no longer employed by the company as a Senior Management Personnel. With effect from December 1, 2023, Mr. Santanu Banerjee will be named as Vice President - (Process Technology, Quality Assurance and NPD) under the company's succession plan for senior management personnel.
Dec 01, 2023, 12:53 pm IST
Alkosign Signs License Agreement With Baggit India
Alkosign Ltd and Baggit India Private Limited have inked a Licence Agreement that permits Alkosign Ltd to manufacture and market Baggit's luggage products under the "Baggit" brand throughout India through offline retail partners and online platforms.
Dec 01, 2023, 12:47 pm IST
Tata Motors Records Total Sales of 74,172 Units In November 2023
In November 2023, Tata Motors Limited sold 74,172 vehicles both domestically and internationally, down from 75,478 units in November 2022. November 2023 had 12,303 domestic sales of MH&ICV, comprising trucks and buses, as opposed to 11,896 sales in November 2022. November 2023 had 12,895 units of total sales for MH&ICV Domestic & International Business, comprising trucks and buses, as opposed to 12,673 units in November 2022.
Dec 01, 2023, 12:37 pm IST
NCC Secures Two New Orders of Rs 553.48 Crores Relating To Building Division
In November 2023, NCC Limited got two new orders totalling Rs. 553.48 crores (excl. GST). The Building Division is the subject of the orders. There are no internal orders in these orders; they are from a private agency.
Dec 01, 2023, 12:32 pm IST
EaseMyTrip Wins Online Travel Marketplace of the Year (B2C) Title By ET Travel World Awards
EaseMyTrip today has secured Online Travel Marketplace of the Year (B2C) award by ET Travel World Awards. EaseMyTrip has always dedicated itself to offering an exceptional array of travel-related services. This honour serves as a testament to such endeavour. EaseMyTrip's wide range of services and user-friendly platform have allowed it to lead the travel industry in terms of trends.
Mr. Rikant Pittie, Co-founder of EaseMyTrip said, “I am humbled by this recognition and really proud of my team's tenacity, diligence, and unwavering dedication and our vision to making travel simple, accessible, and personalised for everyone. This award is the testimony towards our efforts in building a travel ecosystem.”
Dec 01, 2023, 12:24 pm IST
REC Creates History By Crossing Disbursement of Rs 1,00,000 Cr 1n A Year
On Friday, REC announced that it has crossed disbursement of Rs 1,00,000 crore in a year for the first time ever. In the corresponding period of 8 months of FY 2022-23 the disbursement was Rs 46,075 crore, as per a stock exchange filing.
Dec 01, 2023, 12:21 pm IST
Mahindra Auto Sells 39,981 SUVs, Records Total Volumes of 70,576 Units
One of India's top automakers, Mahindra & Mahindra Ltd. (M&M Ltd.), today revealed that its total auto sales for November 2023 were 70,576 units, a 21% increase when exports were taken into account. Mahindra sold 39,981 vehicles in the domestic market in the Utility vehicles division, representing a 32% growth, and 40,764 vehicles total, including exports. 22,211 commercial vehicles were sold domestically.
Dec 01, 2023, 12:16 pm IST
Venus Remedies Climbs 1% On Market Authorisation In Philippines, Saudi Arabia
Venus Remedies is currently trading with gains of nearly 1% after the company gets market authorisation for bleomycin 15IU from Saudi Arabia and for pacilitaxel 100mg/16.7ml and zolendronic acid 4mg in the Philippines.
Dec 01, 2023, 12:16 pm IST
Zydus Receives Final Approval From The USFDA For Ivabradine Tablets To Cure Heart Failure
The United States Food and Drug Administration (USFDA) has granted Zydus Lifesciences Limited final clearance for Ivabradine Tablets, 5 mg and 7.5 mg (USRLD: Corlanor® Tablets, 5 mg and 7.5 mg). Zydus may be qualified for 180 days of shared generic exclusivity for Ivabradine Tablets, 5 mg and 7.5 mg as it was among the first applicants for an ANDA to file a substantially complete ANDA with a paragraph IV certification. The United States saw yearly sales of USD 136.5 million for Ivabradine Tablets, 5 mg and 7.5 mg (IQVIA MAT October,2023). Since the filing process began in FY 2003–04, the organisation has submitted over 448 ANDAs and now has 382 approvals.
In adult patients with stable, symptomatic chronic heart failure and a diminished left ventricular ejection fraction, ivabradine is recommended to lower the risk of hospitalisation due to worsening heart failure. Additionally, stable symptomatic heart failure caused by cardiomyopathy is treated with it in children six months of age and older. The medicine will be produced in Ahmedabad Special Economic Zone, India, at the group's formulation production plant.
Dec 01, 2023, 11:15 am IST
Bharti Airtel Shares Hit 4th Consecutive 52-Week High
Bharti Airtel Ltd shares hit fourth consecutive 52-week high in trade on Friday. Current market price of Bharti Airtel share on BSE is Rs 1016.45 apiece with intraday gain of 0.19%. Bharti Airtel shares gained over 4% in last 1-week and soared nearly 7% in last 2-weeks. The reason behind the rally in shares of Bharti Airtel can be attributed to a block deal.
Dec 01, 2023, 10:34 am IST
Kesoram Industries Touches Upper Circuit On Cement Business Demerger Into Ultratech
Share price of Kesoram Industries (KIL) touched 5% upper circuit in early trade on December 1 after the company's board tweaked the demerger scheme and decided to spin off the cement business into UltraTech Cement. Current market price of Kesoram Industries share on BSE is Rs 146.05 apiece with intraday rally of 4.99%.
Dec 01, 2023, 9:25 am IST
Marico To Acquire 58% Stake In Satiya Nutraceuticals
Marico Limited has finalised agreements to buy up to 58% of the fully diluted paid-up share capital of Satiya Nutraceuticals Private Limited, a company that owns the "The Plant Fix - Plix" brand. Following the action, the company purchased a fully diluted 32.75% share in Satiya Nutraceuticals and the necessary majority control over the makeup of the Board and all voting rights, thereby turning the company into a subsidiary. By May 2025, the remaining 25.25% shareholding will be acquired in tranches, according to the terms and circumstances of the definitive agreements, and on a fully diluted basis.
Dec 01, 2023, 9:19 am IST
LTIMindtree Inks Alliance With Metasphere, Shares To Be In Limelight
LTIMindtree announced that it has been chosen as a strategic partner by Metasphere, a wastewater application specialist, to scale their Smart Sewers management platform. As a part of this partnership, LTIMindtree will modernize Metasphere’s next-generation wastewater monitoring solution portfolio, and enable scalable delivery and platform to their customers.
Dec 01, 2023, 9:14 am IST
Wipro Shares Likely To Remain in Focus
Wipro Limited declared that it is collaborating with AWS to revamp laboratory procedures in the life sciences sector. This ground-breaking solution offers a complete, cloud-based platform that improves stakeholder engagement and simplifies laboratory processes-addressing the fundamental problems that have beset the company for years. With the launch of the Lab of the Future, Wipro and AWS want to provide the life sciences sector with a cutting-edge, effective, and cooperative laboratory solution that may save a great deal of money and hasten the creation of life-saving drugs and products.
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